STEEL PRODUCERS INVEST MILLIONS

Two of South Africa’s
biggest steel producers
– ArcelorMittal
South Africa Limited
(Amsa) and Safal
Steel – have agreed
to invest R250m and
R300m respectively
in new equipment and
modernised production
plants to boost their
manufacturing
competitiveness.
Furthermore,
the companies have
committed to zero
retrenchments over
the next three years
and are working with
government on the
development of a new
pricing model for local
steel products.
These commitments,
amongst others,
were outlined in an
International Trade
Administration
Commission of South
Africa (Itac) report on
new customs duties,
following government’s
approval of a 10%
tariff increase on zinc
coated/galvanised
steel, aluminium
zinc coated steel and
painted steel.